Fifth Third Bancorp Has $1.86 Million Position in Newmont Corporation (NYSE:NEM)

Fifth Third Bancorp boosted its position in Newmont Corporation (NYSE:NEM - Free Report) by 13.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,414 shares of the basic materials company's stock after buying an additional 4,605 shares during the quarter. Fifth Third Bancorp's holdings in Newmont were worth $1,855,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of NEM. SOA Wealth Advisors LLC. lifted its holdings in Newmont by 64.0% in the first quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock worth $25,000 after acquiring an additional 201 shares during the last quarter. HighPoint Advisor Group LLC raised its position in shares of Newmont by 3.8% during the 4th quarter. HighPoint Advisor Group LLC now owns 5,992 shares of the basic materials company's stock worth $223,000 after purchasing an additional 219 shares during the period. Rothschild Investment LLC lifted its holdings in shares of Newmont by 8.5% in the 1st quarter. Rothschild Investment LLC now owns 2,786 shares of the basic materials company's stock worth $135,000 after purchasing an additional 219 shares during the last quarter. Keel Point LLC boosted its position in Newmont by 2.0% during the 4th quarter. Keel Point LLC now owns 14,774 shares of the basic materials company's stock valued at $550,000 after purchasing an additional 287 shares during the period. Finally, Howard Capital Management Inc. boosted its position in Newmont by 5.4% during the 4th quarter. Howard Capital Management Inc. now owns 5,653 shares of the basic materials company's stock valued at $210,000 after purchasing an additional 292 shares during the period. Institutional investors and hedge funds own 68.85% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on NEM. Cfra Research upgraded Newmont to a "strong-buy" rating in a research note on Friday, April 25th. Royal Bank Of Canada lifted their price objective on shares of Newmont from $52.00 to $66.00 and gave the company a "sector perform" rating in a research report on Wednesday, June 4th. UBS Group raised shares of Newmont from a "neutral" rating to a "buy" rating and boosted their target price for the company from $50.00 to $60.00 in a research note on Friday, April 11th. TD Securities dropped their price target on shares of Newmont from $46.00 to $45.00 and set a "hold" rating on the stock in a research note on Wednesday, February 26th. Finally, Raymond James Financial reiterated an "outperform" rating and set a $66.00 price objective on shares of Newmont in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $57.68.

Newmont Price Performance

Shares of NEM stock traded up $0.40 during mid-day trading on Tuesday, hitting $58.52. 11,616,351 shares of the stock traded hands, compared to its average volume of 10,395,276. Newmont Corporation has a twelve month low of $36.86 and a twelve month high of $58.81. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.70 and a current ratio of 1.98. The company's 50-day simple moving average is $53.26 and its 200-day simple moving average is $46.55. The firm has a market cap of $65.13 billion, a price-to-earnings ratio of 13.90, a price-to-earnings-growth ratio of 0.98 and a beta of 0.31.

Newmont (NYSE:NEM - Get Free Report) last released its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.71 by $0.54. Newmont had a return on equity of 15.75% and a net margin of 25.77%. The firm had revenue of $5.01 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same period in the previous year, the company earned $0.55 earnings per share. As a group, equities research analysts expect that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, May 27th will be issued a $0.25 dividend. The ex-dividend date is Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.71%. Newmont's payout ratio is currently 22.42%.

Insider Buying and Selling

In other news, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $54.09, for a total transaction of $162,270.00. Following the sale, the executive vice president now directly owns 77,526 shares of the company's stock, valued at $4,193,381.34. The trade was a 3.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $54.09, for a total value of $112,344.93. Following the completion of the transaction, the director now owns 45,180 shares of the company's stock, valued at $2,443,786.20. This trade represents a 4.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,154 shares of company stock worth $381,539 in the last ninety days. 0.05% of the stock is currently owned by corporate insiders.

Newmont Profile

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.